What is Dragonchain?
Dragonchain is a blockchain-as-a-service (BaaS) type enterprise dedicated to delivering high grade blockchains and smart contracts for specialized business solutions. It was started out as a Disney based enterprise before it branched off as a different, privately held company. Unlike Ethereum and other smart contract-based platforms, blockchains built by Dragonchain are not open sourced and are proprietary, meaning the data stored within them remains in the hands of its owners at all times. Among its benefits as a platform, Dragonchain offers a lower cost of development by using popular, widely used development languages, a fast speed to market of its blockchain products, high levels of security with its proprietary blockchain architecture, and high degrees of scalability, suitable for the smallest or biggest of businesses.
History of Dragonchain
The Dragonchain token sale (DRGN) ran from October to November 2017, which was highly successful, taking in about $13.7 million in bitcoin and ether. The project was originally known as the Disney Private Blockchain Platform, released as open source software by Disney in 2016. In 2017, the Dragonchain Foundation was founded to onboard commercial launch partners, and by 2018 the full platform began rolling out to customers. In January 2018, Dragonchain topped a market capitalization value of over $1.1 billion, making it one of the fastest growing blockchain platforms to ever be traded on cryptocurrency markets.
How Dragonchain Works
As an independent blockchain platform, the goal of Dragonchain is to provide security, scale, and coding flexibility for businesses looking for blockchain-based solutions. Dragonchain’s approach to success with these goals is by keeping their blockchains proprietary, centralized and permissioned, meaning that while they still operate according to the principles of cryptocurrency, the contents of their data remains inaccessible by outside parties. This helps keep data secure and controlled. Dragonchain has several steps of development in their blockchain building process
Among the benefits of using Dragonchain as a BaaS-type provider are:
Protection of Business Data & Operational Smart Contracts. Through Dragonchain’s proprietary blockchain architecture which thereby specializes in the creation of permissioned-only blockchains, businesses can be assured that their data remains secure, in the customer’s hands and in their complete control at all times.
Scalable system via Serverless Deployment. Using a cloud-like structure for data hosting, based on the principles of decentralization, Dragonchain blockchain environments are capable of operating without servers, scaling to demand and only dependent on the number of hosts currently employing the blockchain software.
Creation of Smart Contracts with established, general purpose languages. By writing their business smart contracts using the most popular scripting languages (Java, Python, NodeJS, C#), Dragonchain clients can easily access and operate smart contracts from their library, without advanced knowledge of obscure, specialized or seldom used computer languages.
Ecosystem for sharing and monetization of Smart Contracts. By being connected to one another through the main Dragonchain platform, customers can swap smart contracts and sell them to other users.
Short, fixed length block times. By keeping block times relatively short (1 second – 1 minute in length), transactions can be confirmed not only more rapidly but in greater numbers as well, thus increasing the scalability of blockchains generated by Dragonchain.